jm + banks + finance   2

How the banks ignored the lessons of the crash
First of all, banks could be chopped up into units that can safely go bust – meaning they could never blackmail us again. Banks should not have multiple activities going on under one roof with inherent conflicts of interest. Banks should not be allowed to build, sell or own overly complex financial products – clients should be able to comprehend what they buy and investors understand the balance sheet. Finally, the penalty should land on the same head as the bonus, meaning nobody should have more reason to lie awake at night worrying over the risks to the bank’s capital or reputation than the bankers themselves. You might expect all major political parties to have come out by now with their vision of a stable and productive financial sector. But this is not what has happened.
banks  banking  guardian  finance  europe  eu  crash  history 
september 2015 by jm
Ross Anderson and Steven J Murdoch rip into Verified By VISA
'this is yet another case where security economics trumps security engineering, but in a predatory way that leaves cardholders less secure.'
verified-by-visa  security  phishing  web  banks  banking  money  authentication  finance  visa  3dsecure  papers  from delicious
february 2010 by jm

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